Vietnam expected to be magnet for intra-ASEAN investment

Vietnam would be an attractive destination for intra-ASEAN investment thanks to the Government's determination to equitise and withdraw capital from State-owned enterprises. Dato John Chong, Chief Executive Officer of Malaysia's Maybank Kim Eng Group, made the remark at a recent Invest ASEAN 2017 Conference in Singapore, which attracted 126 global investment funds and 49 businesses in Southeast Asia.

He said investors see are a lot of fundraising demand for infrastructure projects and opportunities in places like Vietnam and Indochina, where the governments are working on the privatisation of some state-owned enterprises. He noted that Southeast Asia needs an estimated of 600 billion USD in investment for infrastructure projects until 2020. Malaysia, Singapore, Indonesia, the Philippines, Thailand and Vietnam are predicted to enjoy an annual growth rate of 4.8% on the back of trade recovery, higher commodity prices and improved global electronics demand. Vietnam is forecast to record a high growth rate of 6.3% this year and 6.2% in the following year.

Source: VOV5